Axing Airbnb Won’t Free Up Rentals

Placing restrictions on short-term rentals is unlikely to free up properties for long-term tenants, according to a survey of Airbnb hosts.

The majority, 88%, say they won’t offer their homes to the long-term rental market even if stronger restrictions are introduced.

About half of respondents say they will leave the property empty rather than offer it for long-term rental, according to a survey by YouGov.

About two-thirds of respondents believe their property can’t transition from a short-term rental into a long-term rental. This is because it is used as either a primary residence, secondary residence, holiday home, or it is not suitable for long-term rental.

Only 12% of Australian Airbnb hosts surveyed say they are likely to put their home on the long-term rental market if restrictions are placed on how often a property can be offered for short-term lease. Analysis of Victoria’s 7.5% levy on those who offer their properties for short-term letting, shows there has been no improvement in vacancy rates for long-term letting as a result.

Airbnb properties account for about 2% of Australia’s dwellings.